Nifty and Sensex ended on a mixed note on Monday. Share market analysts expect the market to consolidate in the near term before resuming the upward journey. Sectors like Auto, and FMCG would be in focus with the progress of the monsoon, they said.
Market participants should prefer defensive viz. pharma and FMCG and choose selectively from others, as per Ajit Mishra, SVP - Technical Research, Religare Broking Ltd. Adani Power, HUL, Bharti Airtel, L&T among stocks to watch on Tuesday.
Rohit Jawa is all set to take over the corner office at Hindustan Unilever after Sanjiv Mehta retires. In his new role as the MD and CEO of HUL, Jawa is likely to get an annual remuneration of Rs 21.43 crore, according to the company's annual report. He will also get a sum of Rs 4.83 crore as mobility-linked allowances in FY24.
Adani Power has achieved commercial operations of its power project located in the Godda district of Jharkhand. Unit 2 of 800 MW capacity of the 2×800 MW Ultra-supercritical power project achieved commercial operations, following successful completion of Reliability Run Tests.
Larsen & Toubro (L&T) has bagged ‘significant’ orders in the range of Rs 1,000 crore to Rs 2,500 crore for its power transmission and distribution business in India and abroad. The business has won two orders for the upgrade of electrical networks in large industrial facilities in the Middle East.
Anant Raj shares will trade ex-dividend on June 27, 2023. The company had announced a final dividend of Rs 0.5 per equity share along with its Q4FY23 results.
Welspun India shares will trade ex-dividend on June 27, 2023. The company had announced a final dividend of Rs 0.1 per equity share along with its Q4FY23 results.
Airtel Business announced that its CEO, Ajay Chitkara, has decided to step down from his role. The company will consequently operate as three business and channel segments – Global Business which will be led by Vani Venkatesh, Domestic Business which will be led by Ganesh Lakshminarayanan, and Nxtra Data Centers led by Ashish Arora.
The Securities Appellate Tribunal (SAT) on June 26 said that it will hear Zee Entertainment Enterprises MD and CEO Punit Goenka’s plea challenging the SEBI interim order that bars them from holding the position of a director or key managerial personnel in any listed company on June 27.
The Board of Hindustan Aeronautics Ltd (HAL) will meet on June 27 to consider and approve a proposal to split its equity shares. "A meeting of the Board of Directors of the company will be held on June 27, to consider a proposal of sub-division of equity shares of the company," the company said in a filing.
“The headline index Nifty has remained sideward during the session. On the lower end, it found support at the 21EMA on the daily timeframe. The trend remains complex as long as it stays within the bands of 18,500-18,800. A decisive breakout on either side might trigger a directional move. Till then, we expect a market where the dips would be bought and rises would be sold into,” said Rupak De, Senior Technical analyst at LKP Securities.
“Bank Nifty has support at the 43,400 level, while the resistance is observed at 44,000, where the highest call writing is visible. If the index breaks down below the 43,400 level, it may experience further correction toward the 42,000 mark. The overall undertone of the index remains neutral, and a break on either side of the support or resistance level will confirm a clear trend,” said Kunal Shah, Senior Technical & Derivative analyst at LKP Securities.
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